Market Overview for Mira/Tether (MIRAUSDT) – 2025-10-03

• Price surged from 0.5828 to 0.6363 amid strong volume and momentum
• RSI and MACD suggest overbought conditions post-breakout
• Bollinger Bands show expansion, signaling increased volatility
• Volume diverged during pullback but reconfirmed on the 0830–0945 window
• Key resistance at 0.630–0.636; support near 0.602–0.608

Mira/Tether (MIRAUSDT) opened at 0.5828 on 2025-10-02 12:00 ET and closed at 0.6083 on 2025-10-03 12:00 ET, hitting a high of 0.6363 and a low of 0.5828. Total traded volume over 24 hours was 38,347,843.3 units, with a notional turnover of approximately $23.76 million.

Structure & Formations

Price saw a strong breakout above a prior 24-hour high of 0.6121, forming bullish engulfing patterns and a bullish harami near 0.602–0.605. A bearish doji emerged during the 0830–0945 pullback at 0.6007, signaling short-term hesitation. Resistance levels formed at 0.627–0.630 and 0.636, while key support resides at 0.602–0.608 and 0.595–0.596.

Moving Averages

On the 15-minute chart, price broke above the 20- and 50-period moving averages, with the 50-SMA at 0.616 and the 20-SMA at 0.622. On the daily chart, the 50- and 100- and 200-period SMAs are all trending upwards, with the 50-SMA at 0.618 and the 200-SMA at 0.599. Price currently sits above all, indicating bullish momentum.

MACD & RSI

MACD showed a strong positive divergence with a 15-minute histogram crossing into the positive zone and staying there. RSI reached overbought territory (75+), peaking at 78.2 during the 0015–0145 ET window. While suggesting short-term consolidation, it confirms a bullish bias. Overbought conditions may lead to a pullback, but a sustained move above 0.636 would confirm a strong breakout.

Bollinger Bands

Bollinger Bands expanded significantly, reaching a width of 0.029 at the peak. Price traded near the upper band from 0000–0200 ET and pulled back to the middle band during 0600–0730 ET. Current positioning near the middle band suggests a consolidation phase may follow unless a new high is confirmed.

Volume & Turnover

Volume spiked at 1,125,863.1 units during the 0015–0030 ET window, confirming the breakout to 0.6363. A divergence occurred at 0830–0945 ET, where price declined but volume stayed relatively low, suggesting weak bearish conviction. However, turnover remained steady, indicating active participation despite the pullback.

Fibonacci Retracements

Recent 15-minute swings show the 0.624–0.6363 as a key Fibonacci level. The 61.8% retracement sits at 0.6182, which has acted as a support level during several pullbacks. On the daily chart, the 38.2% and 61.8% retracements align with 0.616 and 0.625, respectively, providing potential key levels for continuation or reversal.

Backtest Hypothesis

A backtesting strategy could involve entering long positions on a close above the 50-SMA with confirmation from a bullish engulfing pattern. Stop-loss placement at 0.608 aligns with recent support, and a target of 0.636–0.642 reflects the 38.2% Fibonacci extension. This approach leverages the current momentum and structure while managing risk on a pullback.